Fitch downgrades Airbus

Fitch Ratings said it downgraded Airbus SE’s long-term issuer default rating to BBB+ from A-. Fitch also downgraded Airbus’ and Airbus Group Finance BV’s senior unsecured debt to BBB+ from A-.

“The downgrade reflects Fitch’s view that the recovery from the pandemic will be more prolonged relative to our previous expectations, with a slower rebound in the large commercial aircraft (LCA) market leading to weaker cash flows through the medium term. Fitch believes that Airbus will be challenged to return its financial metrics to levels consistent with an A- rating by the end of 2022,” Fitch said in a press release.

The outlook is negative.

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